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Watch for Direxion Daily Emerging Markets Bear 3X Shares to Potentially Rebound After Falling 3.70% Yesterday

By Shiri Gupta

Direxion Daily Emerging Markets Bear 3X Shares (NYSE:EDZ) traded in a range yesterday that spanned from a low of $16.48 to a high of $16.96. Yesterday, the shares fell 3.7%, which took the trading range below the 3-day low of $17.02 on volume of 826,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Direxion Daily Emerging Markets Bear 3X Shares share prices have been bracketed by a current low of $16.48 and a high of $72.94 and are now at $16.50. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.9% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Direxion Daily Emerging Markets Bear 3X Shares on January 5th, 2017 by issuing a Downtrend alert when the shares were trading at $23.12. Since that call, shares of Direxion Daily Emerging Markets Bear 3X Shares have fallen 25.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders direxion daily emerging markets bear 3x shares

Ticker(s): EDZ